COMMERCE BANK ANNOUNCES ACCESS TO FREE ONLINE TAX PREPARATION AND ELECTRONIC FILING FOR ELIGIBLE TAXPAYERS

Commerce Bank teams again with Intuit to provide free Web-based tax preparation and filing to lower- income taxpayers

(St. Louis, February 20, 2002) - Commerce Bank, N.A., which is offering access to online tax preparation and electronic filing services for the 2001 tax year, today announced that it is continuing its participation in the Quicken^® Tax Freedom Project, a public service initiative that makes online tax preparation and electronic filing available at no charge to taxpayers with an annual adjusted gross income of $25,000 or less. This free program applies to both state and federal individual income tax returns.

Commerce Bank is offering access to online tax preparation and electronic filing -- at no charge to eligible families and individuals -- in conjunction with Intuit Inc., the maker of personal finance software such as Quicken and Quicken TurboTax^®. Commerce will make Intuit's Quicken TurboTax for the Web^sm sm personal tax preparation web-based products accessible from the Bank's web site at www.commercebank.com through October 16, 2002. These products enable taxpayers to quickly prepare and electronically file their tax returns via the Internet.

"A significant number of our customers have taken advantage of this service in previous years, and we are pleased to continue to offer this time-saving solution for eligible individuals," commented Charles G. Kim, Executive Vice President, Retail Administration, Commerce Bancshares, Inc. "Providing options that help give our customers convenient financial solutions is important to all of us at Commerce Bank. Additionally, our customers value the services we bring to them through our business alliances that deliver the right products to help meet their needs."

According to IRS statistics, approximately 60 million American taxpayers are eligible to participate in the Quicken Tax Freedom Project.

Commerce Bank Offers Quicken TurboTax for the Web to All Customers

Commerce also is providing Intuit's Quicken TurboTax for the Web to all taxpayers through its web site at www.commercebank.com. Electronic filing allows taxpayers to receive their refund in approximately half the time it takes when filing taxes via mail. For taxpayers with an adjusted gross income above $25,000, current pricing is available on the TurboTax for the Web site. Through March 31, 2002, 1040EZ filings are priced at $9.95 for Federal Returns and $4.95 for State Returns; Standard 1040 filings are priced at $19.95 for Federal Returns and $12.95 for State Returns.

About Intuit Inc.

Intuit Inc. (NASDAQ: INTU) is the leading provider of financial software and Web-based services for consumers, small businesses and accounting professionals. Its flagship products and services, including Quicken^®, QuickBooks^®, Quicken TurboTax^® and Quicken Loans^® simplify personal finance, small business management and payroll processing, tax preparation and filing and home loans. Founded in 1983, Intuit has annual revenue of more than $1 billion and reaches 25 million customers with nearly 6,000 employees in 13 states and four countries. More information can be found at www.intuit.com

About Commerce Bank
Commerce Bank is an affiliate of Commerce Bancshares, Inc., a registered bank holding company with assets of $12.9 billion offering a full line of banking services, including investment management and securities brokerage. The Company currently operates in approximately 340 locations in Missouri, Illinois, and Kansas. The Company also has operating subsidiaries involved in mortgage banking, credit related insurance, venture capital, and real estate activities.

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For further information contact:
Nancy E. Levin, APR
Director of Regional Marketing
800-892-7100 x2632

Website: www.commercebank.com
e-mail: mymoney@commercebank.com
SYMBOL: CBSH